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ASAP Salution - Job costs & Process costs
1. Job Order Costing vs Process Costing (5: 59
https://www.youtube.com/watch?v=F6RzLSSKlZM
2. Job Order Costing (4:25)
https://www.youtube.com/watch?v=Uw_52M9GLbg
3. Process Costing (12:15)
https://www.youtube.com/watch?v=guZc84c5HNI
4.Cost Per Equivalent Unit (weighted average method) (12:20)
https://www.youtube.com/watch?v=Txv05196CWs
5.Cost Per Equivalent Unit FIFO Method (7:53)
https://www.youtube.com/watch?v=C76QjSgvnyQ
6.Cost Per Equivalent Unit-- FIFO Method vs. Weighted-average Method (8:35)
https://www.youtube.com/watch?v=P_Nwchc_pcs
7.Cost Per Equivalent Unit, FIFO Method, Part 2 (Applying Costs) (6:47)
https://www.youtube.com/watch?v=y1TLRSL9Yjo
After watching the videos, please answer the following questions one paragraph for each question:
1. How might you apply direct labor costs under Job Order versus Process Costing?
2.Under the 2 methods of Process Costing, why is the FIFO method considered superior to the Weighted Average method?
3. Is it possible to monitor cost "trends" using the Weighted Average method?